Congress have passed a bill to help already incredibly rich companies build new manufacturing plants in the States presumably in the hope they will move all of their manufacturing back to America. Hopefully this move will reduce the global shortages and in turn the price of processors.
Great news if you had recently bought shares worth millions of $ in Tech stock and hopefully good news for the rest of us too if it results in less shortages. Maybe in 10 years time when the plants are up and running we can all get our hands on cheaper chips or a Playstation 7.
Surprisingly the $280 Billion spending bill received pretty decent support in the House from the share owning politicians, (passing in a 243-to-187 vote) and now just awaits the Presidents signature.
Support For US Semiconductor Industry
Intel Boss Pat G congratulated Congress for making rich people richer and gave the following statement – “This is a critical step to support the entire US semiconductor industry and to help ensure continued American leadership in semiconductor manufacturing and R&D. Congress has done its part, and now we are going to do ours. I’m excited to put shovels in the ground as Intel moves full speed ahead to start building in Ohio.”
Not Just Chips
Its not all going on chips though a massive $170 billion of it is going in to funding for US scientific research over the next five years, God only knows what they will blow this lot on – probably how to clone humans so rich people can live forever.